A Company Had Credit Sales of $30,000 and Cash Sales

question 92

Multiple Choice

A company had credit sales of $30,000 and cash sales of $10,000 during the month of May. Also during May, the company paid wages of $1,000 and utilities of $800. It also received payments from customers on account totaling $4,000. At the beginning of May, the company had a cash balance of $25,000. What is the company's cash balance at the end of May?

• A) $23,200
• B) $25,000
• C) $37,200
• D) $65,000

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